The table below shows the quantity demanded and supplied at various wage rates for a competitive market. Wage Rate Quantity of Workers Demanded Quantity of Workers Supplied $100 5 50 90 10 45 80 20 40 70 35 35 60 50 30 If the workers form a union and negotiate a weekly wage of $90, how many workers will be supplied and demanded? Multiple Choice The quantity demand will be 10 and the quantity supplied will be 35. The quantity demanded will be 10 and the quantity supplied will be 45. The quantity demand and supplied will both be 35. The quantity demanded will be 35 and the quantity supplied will be 45.
The table below shows the quantity demanded and supplied at various wage rates for a competitive market. Wage Rate Quantity of Workers Demanded Quantity of Workers Supplied $100 5 50 90 10 45 80 20 40 70 35 35 60 50 30 If the workers form a union and negotiate a weekly wage of $90, how many workers will be supplied and demanded? Multiple Choice The quantity demand will be 10 and the quantity supplied will be 35. The quantity demanded will be 10 and the quantity supplied will be 45. The quantity demand and supplied will both be 35. The quantity demanded will be 35 and the quantity supplied will be 45.
Chapter11: Labor Markets
Section: Chapter Questions
Problem 18SQ
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Question
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The table below shows the quantity demanded and supplied at various wage rates for a competitive market.
| Wage Rate | Quantity of Workers Demanded | Quantity of Workers Supplied |
|---|---|---|
| $100 | 5 | 50 |
| 90 | 10 | 45 |
| 80 | 20 | 40 |
| 70 | 35 | 35 |
| 60 | 50 | 30 |
If the workers form a union and negotiate a weekly wage of $90, how many workers will be supplied and demanded?
Multiple Choice
-
The quantity demand will be 10 and the quantity supplied will be 35.
-
The quantity demanded will be 10 and the quantity supplied will be 45.
-
The quantity demand and supplied will both be 35.
-
The quantity demanded will be 35 and the quantity supplied will be 45.
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